Changes to immigration policy to spur job creation and economic growth are needed quickly, according to KPMG Bermuda.The professional-services firm yesterday published its perspective on the Budget, which was delivered by Curtis Dickinson, the finance minister, in the House of Assembly last Friday.“Bermuda’s immigration policy continues to be a politically sensitive subject, yet is increasingly important to the island and to the international businesses present, especially given Bermuda’s ageing population,” KPMG commented.“In order to attract employees and increase the working population, changes to the immigration policy must be made swiftly to enable essential job creation and promote substantial growth in the economy.It also hailed Bermuda’s removal from the EU’s economic substance grey list and addition to the list of co-operative jurisdictions, which it said demonstrates the Government’s commitment to compliance with good tax governance practices. “Further ongoing work and investment in technology and trained personnel will be required by the Registrar of Companies to maintain this position,” KPMG said. “Further, the landscape continues to change with global tax initiatives, such as OECD’s Beps 2.0 on the horizon.” More good news came from the Caribbean Financial Action Task Force report last month, which rated the effectiveness of Bermuda’s regime to deal with money laundering and terrorist financing risks as sixth best among 75 reports received. This was “an excellent endorsement ... reinforcing the island’s status as a highly regarded jurisdiction for international business”, KPMG said.“This, combined with the grey list removal, bodes well for all business sectors in Bermuda.“However, in light of the ongoing pressure of tax transparency and other international requirements, the Government should be engaging in discussions with international business in order to ensure that our tax system remains credible and withstands international scrutiny.”